Ideas:

1. The shape of a canoe does not necessarily mean a real canoe. It can be poetically used for e.g. an ariki. Also it can be used figuratively for an island.

When navigating during a long voyage from one 'land' to another they used to regard the double-canoe as stationary whereas the fixed islands were seen as receding respectiely as approaching:

... In traditional navigational schools on Puluwat in the Caroline Islands, students learn how to sail outrigger canoes. As Puluwat sailors conceptualize a voyage between two islands, it is the islands that move rather than the canoe: the starting point recedes as the destination approaches :..

2. Given that a broken canoe stands for a dead chief, then an unbroken one reasonably stands for a living one. I think we may continue and say that the sign of an unbroken canoe indicates life (ora) in contrast to a broken one which means death:

Metoro as a rule said 'ihe (tau)' at this type of glyph. (Though remarkably 'henua' at Ea2-32.)

Once in a while he also said 'tau (avanga)', which seems to mean stone at burial place, tau meaning stone and avanga meaning niche. Ihe means needle or point. (Source: Barthel)